Kimberly-Clark 2Q profit falls 10 percent
AP , Dallas: Jul 24 2008
Made Popular Jul 24 2008

Kimberly-Clark says its second-quarter profit fell 10 percent, confirming pre-released results that showed it had been hurt by rising gas and distribution costs.

Kimberly-Clark, the maker of Kleenex and Huggies products, says it earned $416.7 million, or 99 cents per share, down from $461.8 million, or $1 per share a year ago. Revenue is up 11.2 percent, to $5 billion from $4.5 billion.

Excluding one-time costs, Kimberly-Clark says it earned $1.03 per share.

Thomson Financial says analysts, who typically exclude one-time costs, expected Kimberly-Clark to earn $1.03 per share on $4.98 billion in revenue.

The company said last week its results suffered due to a sharp rise in costs for natural gas, oil-based materials and distribution.

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